GM!

Institutional investors are growing more bearish on the U.S. Dollar, with asset managers' net short positions hitting $47 billion, close to the highest since December 2023. Short exposure has doubled in two months amid an accelerating decline, with the U.S. Dollar Index down 9.5% year-to-date—its worst in 30 years. Meanwhile, the Euro, Swiss Franc, and Japanese Yen have risen 10.1%, 10.3%, and 8.5% against the Dollar in 2025. Tariffs are driving this weakness.

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